Bonanza Creek Energy, Inc. Announces Pricing of Upsized Public Offering of Common Stock

DENVER, January 31, 2013 - Bonanza Creek Energy, Inc. BCEI (the "Company") today announced that it has priced an upsized underwritten public offering of 11,500,000 shares of its common stock at a public offering price of $29.50 per share. All 11,500,000 shares will be sold by Project Black Bear LP, the selling stockholder (the "Selling Stockholder"). The underwriters have an option to purchase up to a maximum of 1,500,000 additional shares from the Selling Stockholder at the public offering price (less the underwriting discount). The Company will not receive any proceeds from the sale of shares of common stock by the Selling Stockholder. The offering is expected to close on February 6, 2013, subject to satisfaction of customary closing conditions.

Credit Suisse and Raymond James acted as joint book-running managers in the offering, KeyBanc Capital Markets, BMO Capital Markets and Scotiabank / Howard Weil served as senior co-managers for the offering, and Stifel Nicolaus Weisel, Wunderlich Securities, Societe Generale, SunTrust Robinson Humphrey, C.K. Cooper & Company, Miller Tabak, KLR Group and IBERIA Capital Partners L.L.C. were co-managers for the offering. 

An investor may obtain a free copy of the prospectus supplement and accompanying base prospectus relating to the offering by visiting EDGAR on the SEC website at www.sec.gov. When available, a copy of the prospectus supplement and accompanying base prospectus relating to the offering also may be obtained from:

Credit Suisse Securities (USA) LLC
Attn: Prospectus Department
One Madison Avenue
New York, NY 10010
Phone: 1-800-221-1037
Email: newyork.prospectus@credit-suisse.com

Raymond James & Associates, Inc.
880 Carillon Parkway
St. Petersburg, Florida 33716
Phone: 1-800-248-8863
Email: prospectus@raymondjames.com

This press release does not constitute an offer to sell or a solicitation of an offer to buy common stock or any other securities, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering of these securities may be made only by means of the prospectus supplement and the related base prospectus.

About Bonanza Creek Energy, Inc.

Bonanza Creek Energy, Inc. is an independent energy company engaged in oil and natural gas exploration and production in the United States. The company's assets and operations are concentrated primarily in the Wattenberg Field in Colorado and in southern Arkansas. The company's common shares are listed for trading on the New York Stock Exchange under the ticker symbol BCEI.

Forward Looking Statements

Certain statements included in this press release are intended as "forward-looking statements." These statements include assumptions, expectations, predictions, intentions or beliefs about future events, particularly the consummation of the transactions described above. The Company cautions that actual future results may vary materially from those expressed or implied in any forward-looking statements. Specifically, the Company cannot assure you that the proposed transactions described above will be consummated on the terms the Company currently contemplates, if at all. Information concerning these and other factors can be found in the Company's filings with the SEC, including its Forms 10-K, 10-Q and 8-K, which can be obtained free of charge on the SEC's web site at http://www.sec.gov.

Any forward-looking statements made in this press release speak only as of the date of this release and, except as required by law, the Company undertakes no obligation to update any forward-looking statement contained in this press release, even if the Company's expectations or any related events, conditions or circumstances change. The Company is not responsible for any changes made to this release by wire or Internet services.

For further information, please contact:

Mr. Ryan Zorn
Vice President - Finance
720-440-6172

Mr. James Masters
Investor Relations Manager
720-440-6121